Arcadia Investment Management Corp MI Grows Stock Position in Pure Storage, Inc. (NYSE:PSTG)

Arcadia Investment Management Corp MI boosted its stake in Pure Storage, Inc. (NYSE:PSTG) by 18.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 54,280 shares of the technology company’s stock after acquiring an additional 8,540 shares during the quarter. Arcadia Investment Management Corp MI’s holdings in Pure Storage were worth $3,334,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Global Retirement Partners LLC boosted its holdings in Pure Storage by 48.7% in the 4th quarter. Global Retirement Partners LLC now owns 1,981 shares of the technology company’s stock worth $122,000 after acquiring an additional 649 shares during the period. Kestra Investment Management LLC boosted its stake in shares of Pure Storage by 58.4% during the 4th quarter. Kestra Investment Management LLC now owns 7,148 shares of the technology company’s stock valued at $439,000 after buying an additional 2,636 shares during the last quarter. Pembroke Management LTD boosted its stake in shares of Pure Storage by 15.6% during the 4th quarter. Pembroke Management LTD now owns 483,933 shares of the technology company’s stock valued at $29,728,000 after buying an additional 65,422 shares during the last quarter. Peregrine Capital Management LLC boosted its stake in shares of Pure Storage by 1.8% during the 4th quarter. Peregrine Capital Management LLC now owns 159,092 shares of the technology company’s stock valued at $9,773,000 after buying an additional 2,843 shares during the last quarter. Finally, Atria Wealth Solutions Inc. boosted its stake in shares of Pure Storage by 1.5% during the 4th quarter. Atria Wealth Solutions Inc. now owns 17,358 shares of the technology company’s stock valued at $1,066,000 after buying an additional 258 shares during the last quarter. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Insiders Place Their Bets

In other news, insider John Colgrove sold 100,000 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $65.55, for a total transaction of $6,555,000.00. Following the transaction, the insider now directly owns 7,316,722 shares of the company’s stock, valued at approximately $479,611,127.10. This trade represents a 1.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Mona Chu sold 8,311 shares of the firm’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $62.16, for a total value of $516,611.76. Following the transaction, the chief accounting officer now directly owns 67,681 shares in the company, valued at $4,207,050.96. This trade represents a 10.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 137,178 shares of company stock valued at $8,871,746 over the last three months. Company insiders own 6.00% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Lake Street Capital increased their target price on Pure Storage from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Barclays increased their target price on Pure Storage from $56.00 to $61.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 4th. JPMorgan Chase & Co. increased their target price on Pure Storage from $60.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Evercore ISI increased their target price on Pure Storage from $70.00 to $75.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Finally, Needham & Company LLC increased their target price on Pure Storage from $62.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, Pure Storage has a consensus rating of “Moderate Buy” and a consensus price target of $72.70.

Pure Storage Price Performance

Shares of NYSE PSTG opened at $67.88 on Friday. Pure Storage, Inc. has a 1-year low of $38.78 and a 1-year high of $73.67. The business’s fifty day moving average price is $66.10 and its two-hundred day moving average price is $57.94. The firm has a market capitalization of $22.15 billion, a PE ratio of 178.64, a P/E/G ratio of 5.12 and a beta of 1.09.

About Pure Storage

Pure Storage, Inc engages in the provision of data storage and management technologies, products, and services in the United States and internationally. Its Purity software is shared across its products and provides enterprise-class data services, such as always-on data reduction, data protection, and encryption, as well as storage protocols, including block, file, and object.